In today’s briefing:
- Zozo Opens Store in Omotesando, to Increase Retail Ties
- AstraZeneca ADR: Initiation of Coverage – Recent Approvals & Other Drivers
- Illumina Inc.: Initiation of Coverage – New Launches & Other Drivers
- Las Vegas Sands Corp.: Initiation of Coverage – Business Strategy & Key Drivers
- MGM Resorts International: Initiation of Coverage – Business Strategy & Key Drivers
- Trex Company Inc.: Initiation of Coverage – Financial Forecasts
Zozo Opens Store in Omotesando, to Increase Retail Ties
- Zozo may be the leading online fashion mall but it has spent the last two years using its power to drive more traffic to its merchants’ physical stores.
- Its latest service allows stores to sell stock held at Zozo’s fulfilment centre when they themselves have sold out and thus avoid lost sales opportunities.
- Zozo itself, meanwhile, will open a physical store in Omotesando but one entirely devoted to styling services for its customers.
AstraZeneca ADR: Initiation of Coverage – Recent Approvals & Other Drivers
- This is our first report on global pharma major, AstraZeneca.
- The company delivered an outstanding set of results, with revenues of nearly $11 billion surpassing Wall Street expectations.
- Overall, AstraZeneca is well-positioned to gain significant revenue in the coming quarters.
Illumina Inc.: Initiation of Coverage – New Launches & Other Drivers
- This is our first report on Illumina, a well-known provider of sequencing and array-based solutions for genetic and genomic analysis.
- In the quarter, Illumina saw fantastic customer response to the recently launched NovaSeq X Series.
- Driven by genetic disease testing and oncology testing, there was an increase in clinical sequencing consumable shipments.
Las Vegas Sands Corp.: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on Las Vegas Sands Corp, one of the largest operators of global resorts with integrated casinos, gaming, entertainment, and various amenities.
- The company has undergone a challenging period during and after the pandemic as travel restrictions continued to impact the financial results.
- We initiate coverage on the stock of Las Vegas Sands with a ‘Hold’ rating.
MGM Resorts International: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on MGM, one of the largest owners and operators of casinos, hotels, and entertainment resorts in the world.
- The company reported a mixed quarterly result, surpassing Wall Street expectations in terms of revenues but reporting wider than expected losses.
- Cosmopolitan Las Vegas continued to surpass the company’s early projections while operating under MGM Resorts’ direction and had one of its finest quarters.
Trex Company Inc.: Initiation of Coverage – Financial Forecasts
- This is our first report on Trex, one of the largest manufacturers of high-performance, wood-alternative railing and decking, as well as a leader in eco-friendly, low-maintenance living products in the world.
- The launch of the new Trex Transcend lineage product line of the company has been received favorably in the market.
- In this quarter, Trex partnered with two more distribution locations in Texas, which enabled it to expand and service the availability of the products of Trex Outdoor Living in the fastest-growing markets.
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